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Reliance Steel & Aluminum Q4 Profit Increases, beats estimates

Reliance Steel & Aluminum (RS) revealed a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $421.3 million, or $6.64 per share. This compares with $129.6 million, or $2.01 per share, in last year's fourth quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $433.8 million or $6.83 per share for the period.

Analysts on average had expected the company to earn $5.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 87.3% to $3.99 billion from $2.13 billion last year.

Reliance Steel & Aluminum earnings at a glance (GAAP) :

-Earnings (Q4): $421.3 Mln. vs. $129.6 Mln. last year.
-EPS (Q4): $6.64 vs. $2.01 last year.
-Analyst Estimate: $5.22
-Revenue (Q4): $3.99 Bln vs. $2.13 Bln last year.

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